Elwood Capital Partners, based in New York City, acquired 17,710 shares of Wix in Q3, increasing their position value by $3.57 million. As of September 30, they held 40,033 Wix shares worth $7.11 million. Wix shares were priced at $105.43 on Wednesday, down 53% in the past year, underperforming the S&P 500.

In a recent SEC filing, Elwood Capital Partners LP revealed their purchase of 17,710 additional shares of Wix.com Ltd. in Q3, bringing their total holding to 40,033 shares valued at $7.11 million. The added position accounts for 4.34% of Elwood Capital’s 13F assets under management.

Wix.com offers cloud-based website creation and business management tools, generating revenue from subscriptions and services. The company targets individuals, small businesses, and enterprises globally, providing accessible solutions for website development. Despite a 53% drop in Wix’s stock price over the past year, the company continues to show revenue growth and strong fundamentals.

Elwood Capital Partners disclosed holdings in top companies like Amazon and Microsoft, indicating a focus on long-term investments in cash-generating businesses. Wix’s revenue, bookings, and free cash flow have shown growth, with expectations for AI-driven products to drive further revenue. The stock’s performance may not reflect its strong fundamentals, highlighting the importance of patience in investing.

Read more at Yahoo Finance: Why One Fund Bought Wix Stock Despite a 53% Drop Over the Past Year